KLV Capital’s Vic Keller weighed in on the private equity shop’s investment strategy, its portfolio companies’ performance and what M&A activity will look like going forward.
DBJ: Tuesday Morning Files for Bankruptcy
Tuesday Morning Corp. filed voluntary petitions for protection under Chapter 11 bankruptcy, in response to the strain that COVID-19 pandemic and related store closures have put on the company, the Dallas Business Journal reports. The Dallas-based retailer retained Haynes and Boone to guide it through its corporate restructuring.
DBJ: J.C. Penney Plans to Create a REIT as Part of Bankruptcy
The stores in the real estate investment trust would be leased to a new operating company called “New JCP”, according to court documents.
DBJ: Dallas Firm Closes $969M Fund
Baker Botts represented Energy Spectrum Partners in its VIII fund, which will continue to invest primarily in midstream assets in the energy sector.
DBJ: As Dealmaking Stalls, Distress Could Create Opportunities for the Bold in DFW PE
The Dallas Business Journal’s Rebecca Ayers talked with Foley partner Chris Converse and other dealmakers about the challenges and opportunities facing private equity.
DBJ: JCPenney, Neiman Marcus Skipped Debt Payments this Week Amid Bankruptcy Reports
The DFW-based retailers skipped debt payments this week as the COVID-19 pandemic ravages retailers and reports that both are possibly in bankruptcy talks, according to multiple reports.
DBJ: Fort Worth-based Energy Company Files for Chapter 11 Bankruptcy
The Fort Worth oil and gas company, backed by EnCap Investments, cited market pressures in filing for Chapter 11 bankruptcy.
DBJ: PE Provides Billions in Taxes in Texas
Private equity contributes an estimated $4.8 billion in state and local taxes, American Investment Council’s CEO and President Drew Maloney said in an interview with the Dallas Business Journal.
DBJ: Unit of Dallas-based Highland Capital Files for Bankruptcy
Highland Capital Management L.P., a unit within Highland Capital Management’s alternative investment platform, voluntarily filed for Chapter 11 bankruptcy on Wednesday in Delaware. The firm said in a statement that HCMLP’s filing stems from a potential judgment being sought against it that could exceed the entity’s liquid assets.
DBJ: FTC Levies $150M Penalty against Plano Firm
Plano-based AdvoCare International and its former chief executive officer will pay $150 million to settle charges that the company operated as an illegal pyramid scheme, the Federal Trade Commission announced